Islamabad September 25 2024: Siemens Pakistan announces its strategic decision to transform one of its operational segment within Smart Infrastructure – Electrification and Automation Business.
This change aims to better align the business to serve the local market and its customers, thereby enhancing shareholders’ value by embedding the required flexibility in its operations. As a result, certain employees have voluntarily chosen to part ways with the Company and avail themselves of severance benefits.
The estimated one-time cost of this transformation is approximately PKR 556 million, which will be borne by the Company.
The Company is principally engaged in execution of projects under contracts and in manufacturing, installation and sale of electronic and electrical capital goods.
